ROME Feb 3 Bank of Italy Governor Ignazio Visco
said on Monday that the revaluation of the central banks' share
capital approved by parliament last week can boost Italian
banks' core capital only from 2015.
"There is a benefit for the banks, but it's not a big
boost," Visco told reporters.
He said core capital would be increased by around 40 basis
points on average and around 30 basis points for the largest
banks participating in an asset quality review conducted by the
European Central Bank.
The Bank of Italy will only be available to buy back banks'
stakes exceeding a three percent limit set by the government's
legislation after a three year transitional period, he added.
Italian banks Intesa Sanpaolo and UniCredit
could cash in up to 3.5 billion euros combined from
the sale of their revalued stakes in the central bank exceeding
the three percent limit, according to analyst calculations.
(Reporting by Giselda Vagnoni, writing by Gavin Jones, editing
by Francesca Landini)